Canada finance minister defends Trans Mountain purchase

31 May, 2018, 17:15 | Author: Martin Tyler

The federal government's decision to take over the pipeline from Kinder Morgan doesn't change his government's position to oppose the expansion project from Edmonton to Burnaby or its decision last month to pursue a reference case to the B.C. Court of Appeal, Horgan said Tuesday. In 2016, the Federal Court of Appeal overturned approval of the Northern Gateway pipeline project, but it was Ottawa that ultimately rejected the project. The overwhelming majority of Canada'soil exports are sold to American refiners at a discount to worldwide benchmarks, reducing fuel prices for American consumers and income for Canadian producers.

"Why this was necessary is because commercial operations like Kinder Morgan were obviously not prepared to proceed with the project with the cloud of political uncertainty hanging over it which was caused by British Columbia", he said, later noting the federal government "does not suffer the same impediment" and won't be intimidated or deterred by B.C.

Amid the feuding, the pipeline has become a barometer for foreign investments in Canada, with some warning of a spillover into other sectors of the economy.

Medicine Hat-Cardston-Warner MP Glen Motz weighed into the debate over the federal governments plans to buy out the Kinder Morgan pipeline project. Alberta and British Columbia have also been at odds over the potential environmental risks of the project.

Soon after the announcement, a rally was planned for Vancouver to express the pipeline opponents' opposition.

"Our regulatory processes are fundamentally broken", the Business Council of British Columbia said in a statement. (We all know governments can't build things as efficiently as the private sector) Canadians were not consulted on this issue and frankly this is an 11th hour decision made by Justin Trudeau to make up for his failure to properly manage the energy portfolio.

Trudeau's cabinet signed off on the purchase Tuesday morning just days before Kinder Morgan's self-imposed deadline to decide whether to halt or go ahead with the pipeline.

Green Party of Canada Leader Elizabeth May called it a "huge subsidy to fossil fuels" on Twitter. "It's unacceptable for him to spend taxpayer dollars on it, especially $4.5 billion when all across Canada there is no clean drinking water for most (Indigenous) nations. There are a lot of jobs in Saskatchewan that are either directly affected by the pipeline or indirectly affected by the pipeline".

Canada to buy controversial Trans Mountain pipelineThe Canadian Energy Pipeline Association (CEPA) is pleased that the Trans Mountain Expansion Project (TMEP) will be constructed. Prime Minister Justin Trudeau emphasized those differences in his first public comment since his government's announcement.

It's one of the most controversial projects in B.C. history and now that Canadian taxpayers will likely be footing the bill for the Kinder Morgan Trans Mountain pipeline project, there are growing concerns about the economic gamble.

The rationale for the pipeline's construction is to secure access to an overseas export market for Canada's oil producers. Instead, it will sell the controversy-plagued project to Canada.

"Two out of five proposed new tar sands pipelines have now been cancelled in the face of indigenous and environmental legal challenges, widespread public opposition and changing economics", Hudema said.

But the note adds that it's unlikely that an acquisition would allow it to offset the benefit from the $7.4-billion expansion of its Trans Mountain pipeline.

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The governors of Florida, Mississippi and Alabama have declared states of emergencies ahead of the subtropical storm hitting land. A subtropical storm means the center of circulation is exposed and the rain and thunderstorms are pushed away from the center.

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In the early numbers that's up 7% over last year's Game 1 between the winning Pittsburgh Penguins and the Nashville Predators. With his co-star, Chris Paul , sidelined, Houston relied on Harden to create offense, but his shots weren't falling.

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